THE boss of a building firm that crashed with huge debts has apologised for letting people down.

But Chris Mantle has warned a number of upset victims of the demise of Blue Swan Solutions he is collecting evidence to give to the police of threats they have made.

The Creech St Michael firm went into voluntary liquidation owing £500,000 to more than 100 creditors, who are unlikely to get back all of their money.

Mr Mantle has now set up another firm, Redmain Ltd - he claims to ensure work for staff who worked for Blue Swan, but critics have slammed the move.

Somerset County Gazette:

Some are refusing to deal with the new firm, but others have gone further, with threats of 'kneecapping' and one advising him to "sleep with one eye open".

"It may look like I've closed down one company and set up another to avoid debts, but my priority was to save as many jobs as possible because we've let down so many people," said Mr Mantle.

"The threats don't help and it's not nice for my family. I'm contacting the police about it.

"From others, the support has been phenomenal because they know we're not dishonest and weren't trying to fleece anybody.

"We're extremely sorry for what's happened."

Mr Mantle said he employed an in-house accountant when things started going wrong last year, when he was unable to devote himself full-time to the job due to personal problems.

"I'm a builder, not an accountant," said Mr Mantle, who has lost £15,000 he recently ploughed into Blue Swan.

"We've always had payment issues with large companies, especially the insurance industry.

"We put everyone on payment plans after two companies went bust on us, making things worse.

"It was working, but some people weren't prepared to wait for their money and threatened legal action.

"So we took the decision to liquidate the company, giving people more chance of getting their money.

"If I'd just shut the company a couple of months ago, I'd personally be better off."

Mr Mantle said Redmain has not taken on work from Blue Swan, adding: "We're struggling to get going because I'm being bad-mouthed by some rivals who are saying not to trust me. Others are great and supportive.

"I'm helping the liquidators get as many Blue Swan invoices as possible because people are owed money."

The mixed reaction to Mr Mantle setting up Redmain included the following comments at countygazette.co.uk - martyn58981: "Pay your debtors first before setting up a new company. As a supplier I for one will not even supply them even on a cash-only basis and make sure the extent of their debts are well-known."

Betz08: "I have had work done by them (Blue Swan), and would again.

"If the people above them do not pay what they should, how are they supposed to?

"Unfortunately, the middle man is the one that folds then gets slammed. It's the big boys that should feel bad."